I agree, I doubt the banks will negotiate with a “good” borrower until they fall behind and are forced to. Maybe the housing crisis will encourage banks to do this at some point, but I’m not holding my breath.
In regards to credit, I guess it’s really just a matter of self-respect. At this point, I I’ve come to the realization that anything I buy will be in cash for the next few years.
PW,
Thanks for the dire outlook. I just gave my tenant a call to make sure he is comfy and enjoying San Diego.
